What is Union Pacific's EBITDA margin?

Latest reported EBITDA margin for Union Pacific (UNP) is 52.55% as of the trailing twelve months (TTM) ending March 31, 2026.

How has Union Pacific EBITDA margin changed year-over-year?

Union Pacific (UNP) EBITDA margin changed +1.3 percentage points year-over-year on the latest annual filing.

When did Union Pacific EBITDA margin hit its highest annual value?

Union Pacific EBITDA margin reached its highest annual value of 54.32% in 2021.

What was Union Pacific EBITDA margin in 2024?

Union Pacific (UNP) EBITDA margin in 2024 was 51.54%.

What was Union Pacific EBITDA margin in 2025?

Union Pacific (UNP) EBITDA margin in 2025 was 52.82%.

Union Pacific (UNP) EBITDA Margin — Annual & Quarterly %

TTM

52.5%

YoY change

+1.29pp

Trough year (1998)

10.3%

Peak year (2021)

54.3%

EBITDA Margin history chart for Union Pacific (UNP) from 1985 to 2025

Latest: 52.8%

EBITDA Margin change chart for Union Pacific (UNP) from 1985 to 2025

Latest: +1.29pp

EBITDA Margin history table for Union Pacific (UNP) from 1985 to 2025


2025	52.8%	+1.29pp	Dec 31, 2025	Feb 6, 2026
2024	51.5%	+2.08pp	Dec 31, 2024	Feb 7, 2025
2023	49.5%	-1.34pp	Dec 31, 2023	Feb 9, 2024
2022	50.8%	-3.52pp	Dec 31, 2022	Feb 10, 2023
2021	54.3%	+1.43pp	Dec 31, 2021	Feb 4, 2022
2020	52.9%	+2.16pp	Dec 31, 2020	Feb 5, 2021
2019	50.7%	+3.42pp	Dec 31, 2019	Feb 7, 2020
2018	47.3%	-1.92pp	Dec 31, 2018	Feb 8, 2019
2017	49.2%	+1.58pp	Dec 31, 2017	Feb 9, 2018
2016	47.7%	+0.48pp	Dec 31, 2016	Feb 3, 2017
2015	47.2%	+2.12pp	Dec 31, 2015	Feb 5, 2016
2014	45.1%	+3.06pp	Dec 31, 2014	Feb 6, 2015
2013	42.0%	+0.83pp	Dec 31, 2013	Feb 7, 2014
2012	41.2%	+3.05pp	Dec 31, 2012	Feb 8, 2013
2011	38.1%	-0.33pp	Dec 31, 2011	Feb 3, 2012
2010	38.4%	+4.43pp	Dec 31, 2010	Feb 4, 2011
2009	34.0%	+3.11pp	Dec 31, 2009	Feb 5, 2010
2008	30.9%	+1.35pp	Dec 31, 2008	Feb 6, 2009
2007	29.6%	+2.34pp	Dec 31, 2007	Feb 28, 2008
2006	27.2%	+4.27pp	Dec 31, 2006	Feb 23, 2007
2005	22.9%	+2.52pp	Dec 31, 2005	Feb 24, 2006
2004	20.4%	-7.96pp	Dec 31, 2004	Feb 25, 2005
2003	28.4%	-1.43pp	Dec 31, 2003	Feb 18, 2004
2002	29.8%	+2.21pp	Dec 31, 2002	Feb 21, 2003
2001	27.6%	+0.89pp	Dec 31, 2001	Mar 4, 2002
2000	26.7%	-0.06pp	Dec 31, 2000	Mar 21, 2001
1999	26.8%	+16.46pp	Dec 31, 1999	Mar 27, 2000
1998	10.3%	-10.67pp	Dec 31, 1998	Mar 25, 1999
1997	21.0%	-6.07pp	Dec 31, 1997	Mar 18, 1998
1996	27.0%	-0.01pp	Dec 31, 1996	Mar 28, 1997
1995	27.1%	+4.15pp	Dec 31, 1995	Mar 26, 1996
1994	22.9%	+1.74pp	Dec 31, 1994	Mar 8, 1995
1993	21.2%	-11.66pp	Dec 31, 1993	Mar 29, 1994
1992	32.8%	-1.21pp	Dec 31, 1992	Dec 31, 1992
1991	34.0%	+2.40pp	Dec 31, 1991	Dec 31, 1991
1990	31.6%	+1.40pp	Dec 31, 1990	Dec 31, 1990
1989	30.2%	-2.97pp	Dec 31, 1989	Dec 31, 1989
1988	33.2%	-13.17pp	Dec 31, 1988	Dec 31, 1988
1987	46.4%	+4.88pp	Dec 31, 1987	Dec 31, 1987
1986	41.5%	+19.03pp	Dec 31, 1986	Dec 31, 1986
1985	22.5%	—	Dec 31, 1985	Dec 31, 1985

202552.8%+1.29pp
202451.5%+2.08pp
202349.5%-1.34pp
202250.8%-3.52pp
202154.3%+1.43pp
202052.9%+2.16pp
201950.7%+3.42pp
201847.3%-1.92pp
201749.2%+1.58pp
201647.7%+0.48pp
201547.2%+2.12pp
201445.1%+3.06pp
201342.0%+0.83pp
201241.2%+3.05pp
201138.1%-0.33pp
201038.4%+4.43pp
200934.0%+3.11pp
200830.9%+1.35pp
200729.6%+2.34pp
200627.2%+4.27pp
200522.9%+2.52pp
200420.4%-7.96pp
200328.4%-1.43pp
200229.8%+2.21pp
200127.6%+0.89pp
200026.7%-0.06pp
199926.8%+16.46pp
199810.3%-10.67pp
199721.0%-6.07pp
199627.0%-0.01pp
199527.1%+4.15pp
199422.9%+1.74pp
199321.2%-11.66pp
199232.8%-1.21pp
199134.0%+2.40pp
199031.6%+1.40pp
198930.2%-2.97pp
198833.2%-13.17pp
198746.4%+4.88pp
198641.5%+19.03pp
198522.5%—

EBITDA Margin values are taken from Union Pacific's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About EBITDA Margin at Union Pacific (UNP)

According to Union Pacific's latest reported financial statements, the company's latest reported EBITDA margin is 52.5%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.

Headline figure above is from the reporting period ending March 31, 2026 (reported April 23, 2026). Chart and table below cover the full reported history back to 1985.

As of the 2025 fiscal year, Union Pacific (UNP) reported EBITDA margin of 52.82% – expanded 1.3 percentage points year-over-year.

54.32% stands as the all-time-high annual EBITDA margin, posted in 2021, against a low of 10.31% during 1998.

Union Pacific EBITDA Margin by Year

Union Pacific EBITDA Margin 2025: 52.8%

2025's EBITDA margin for Union Pacific came in at 52.82%, expanded 1.3 percentage points from 2024.

Union Pacific EBITDA Margin 2024: 51.5%

Union Pacific posted EBITDA margin of 51.54% in 2024, expanded 2.1 percentage points from 2023.

Union Pacific EBITDA Margin 2023: 49.5%

In 2023, Union Pacific reported EBITDA margin of 49.45%, contracted 1.3 percentage points from 2022.

Union Pacific EBITDA Margin 2022: 50.8%

Union Pacific EBITDA margin in 2022 was 50.80%, contracted 3.5 percentage points from 2021.

Union Pacific EBITDA Margin 2021: 54.3%

Union Pacific EBITDA margin in 2021 was 54.32%.

See more financial history for Union Pacific (UNP).

Sector peers by EBITDA Margin

Industrials peers of Union Pacific (UNP), ranked by their latest EBITDA margin


GE Aerospace (GE)	22.8%
Deere & Company (DE)	22.5%
Caterpillar (CAT)	21.6%
Eaton Corporation (ETN)	20.7%
Honeywell International (HON)	17.8%
RTX (RTX)	17.1%
Lockheed Martin (LMT)	10.8%
Boeing (BA)	7.9%

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